EARNINGS AND TRADING: tinybuild sues Max Ent; Light Science loss grows
The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
----------
Oxford BioDynamics PLC - Oxford, England-based biotechnology company that develops medical tests - Agrees an EpiSwitch PSE deal with Dubai London Clinics & Hospitals. The pact makes OBD's EpiSwitch PSE prostate cancer test available across DLCH's network of clinics and hospitals across the United Arab Emirates, marking its first commercial partnership for EpiSwitch PSE in the Gulf region. This is an "important milestone as we continue to expand internationally," company says.
----------
Arecor Therapeutics PLC - Cambridgeshire, England-based biopharmaceutical company - Announces the publication of clinical data from its AT278-104 study published in the peer-reviewed Diabetes, Obesity & Metabolism. Findings support AT278's potential as the first ultra-rapid U500 option for insulin resistance in people with type 2 diabetes requiring high-dose therapy, regardless of BMI, reinforcing its potential to enable next-generation automated insulin delivery technologies. "We believe these findings support the potential for AT278 to become the first ultra-rapid U500 insulin for prandial use while also reinforcing the important role that advanced insulin formulations will play in enabling smaller, longer-wear fully automated insulin delivery systems that simplify diabetes management, reducing burden and improving outcomes," says Chief Executive Jan Jezek.
----------
tinyBuild Inc - Bellevue, Washington-based video game developer and publisher - Says it filed a lawsuit against Max Ent Games Ltd, formerly Merge Games, on Tuesday, in the US District Court for the Western District of Washington regarding unpaid royalties relating to the game Smalland. tinyBuild alleges Max failed to pay royalties owed to tinyBuild. Max acknowledged royalties are due, but the parties disagree regarding how to calculate the royalties owed. tinyBuild alleges that the full amount due by Max exceeds USD1.9 million, before interest and legal costs.
----------
Caledonian Holdings PLC - Bingley, England-based investment company focused on financial services - Raises £612,000 from sale of 49.0 million new shares at 1.25 pence each. Says proceeds will provide working capital and support the initial commercial rollout of its wholly owned subsidiary Aspire's multi-currency business current account and debit card offering. Funding will also support the progression and conversion of Aspire's near-term trade finance opportunities and the development of its funding relationships.
----------
Ethernity Networks Ltd - supplies data processing semiconductor technology for networking appliances - Says a plan to monetise some patents "has the potential to generate upfront substantial licensing proceeds" if it is successful. "The company and its advisers have identified evidence indicating that products offered by multiple vendors within the rapidly growing AI infrastructure and telecommunications markets may use technology relevant to certain of the company's patents. These vendors collectively represent a substantial proportion of the relevant market, which the board believes may increase the potential commercial value of the company's intellectual property portfolio," Ethernity says. Ethernity in June noted it has engaged an intellectual property monetisation brokerage firm "to evaluate licencing opportunities for its patent portfolio". "The process remains ongoing, and there can be no certainty that a transaction will be completed, as to its timing or terms, or that any proceeds will ultimately be received unless and until a definitive agreement is executed," Ethernity says on Thursday. "Should the process result in the successful execution of a monetisation transaction, any resulting proceeds would strengthen the company's financial position and provide it with greater flexibility to evaluate and pursue its next strategic and operational steps."
----------
Light Science Technologies Holdings PLC - Derbyshire, England-based agriculture technology and fire protection company - Reports a pretax loss of £875,000 in the half-year ended May 31, widening from £163,000 a year prior, as revenue falls 26% to £3.7 million from £5.1 million. Says first half was "a period of consolidation with anticipated external delays impacting trading especially within the PFP division". More positively, notes PFP applications accelerated towards the end of the period with levels of pipeline conversion dramatically increasing - per the increasing demand for the group's services both as an installer and supplier of Injectaclad. This underpins confidence in a substantially stronger second half across all three divisions, it says. In June and July, notes revenue amounted to £2.2 million with committed forward order book value at July 31 £3.1 million, predominantly expected for revenue recognition within the second half.
----------
Riverstone Credit Opportunities Income PLC - Energy infrastructure and energy-transition credit investor - Net asset value per share at June 30 is USD0.90, little changed from USD0.89 at the end of 2025. Total pretax profit is USD963,000, swung from loss of USD917,000 the year prior. Basic and diluted earnings per share amount to 2.25 US cents compared to 1.35c losses. A distribution of 2.11c is approved for the half-year, up from 1.58c the year prior. Following a vote in May, the company adopted a revised investment objective and investment policy in order to facilitate a managed wind-down. The revised investment policy is now "to realise the company's assets on a timely basis with the aim of making progressive returns of cash to holders of ordinary shares as soon as practicable." As such, the Investment Manager is actively seeking exit opportunities to realise the loans comprising the company's portfolio and returning the proceeds to shareholders.
----------
Meridian Mining PLC - London-based company focused on the Cabacal gold-copper project in Brazil - Pretax loss widens to USD12.8 million in the six months ended June 30 from USD6.8 million the year prior. Total expenses climb to USD10.0 million from USD7.7 million, including higher exploration and evaluation expenses of USD5.7 million, up from USD3.8 million. The latter increase reflects the continued advancement of the Cabaçal definitive feasibility study, with expenditures on engineering, environmental, infrastructure, permitting and technical support activities, together with work performed to obtain the preliminary licence for the Santa Helena project. Meridien says the Cabaçal feasibility study is on schedule for filing in the fourth quarter and expects that the second half will be a strong period of growth. Cash at period-end is USD96.0 million, more than double USD41.7 million at the end of 2025.
----------
Copyright 2026 Alliance News Ltd. All Rights Reserved.